Clippers owner purchases The Forum in Inglewood, California for $400 million

In some positive news: the Los Angeles Clippers are finally moving out of the Staples Center and getting their own arena.

Team owner Steve Ballmer announced that he purchased The Forum in Inglewood, California for a grand total of $400 million straight out of his pocket.

“This is an unprecedented time, but we believe in our collective future. We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers and our fans.” said Ballmer in a statement.

He had been trying to acquire the 17,500 seat arena for quite some time, but a highly publicized legal battle with the Madison Square Garden Company kept things from progressing.

The Clippers have been sharing the Staples Center with the Los Angeles since its opening in 1999.

Their new arena is about 10 miles southwest, and a 25 minute drive from the Lakers’ downtown stadium.